How do you revive and old brand? It is tough, but it can be done. Here are the twelve keys, according to one source:
Jeff Himmel, chairman of the Himmel Group, which has rebuilt such brands as Ovaltine and Lavoris, outlined the "Twelve Musts" in product turnarounds:
1. Point of difference. Will consumers buy this product instead of another brand?
2. Unique selling proposition. Does the product tell a unique story?
3. Make the brand stand out.
4. Dominant share of advertising.
5. Frequency of advertising. Make sure the message about your product is repeated over and over to the public.
6. Listen to the consumer, and then listen again more carefully.
7. Produce creative advertising that strikes a chord with the consumer.
8. Control commercial production costs. (He tends to only spend about $2,000 producing a commercial.)
9. Use your money to place ads, not make ads, and get a dominant share of advertising.
10. Live in a state of perpetual paranoia and always know what your competitors are doing.
11. Consider the X factors about your product. For example, does it have an existing distribution, or will it have to be created from scratch?
12. Have discipline to follow all the points on this list.
Himmel underscored that his approach to advertising is to keep production costs low. For example, he often writes the commercials in order to afford more airtime.
I think sometimes you revive a brand by positioning it as cool and retro, like Converse or Pez candy. Of course, the goal it to manage the brand such that it stays on top, and reviving is never an issue.